#103 - Michael Seibel
Published November 28, 2018
|
58 min
    Download
    Add to queue
    Copy URL
    Show notes

    Michael Seibel is a partner and the CEO of YC. He cofounded Justin.tv, which was in the winter 2007 batch and Socialcam, which was in the winter 2012 batch.

    In this episode Michael comments on five of his essays. The essays are: Why Should I Start a Startup?, One Order of Operations for Starting a Startup, The Real Product Market Fit, Users You Don’t Want, and Why Does Your Company Deserve More Money?

    Michael’s on Twitter @mwseibel.

    The YC podcast is hosted by Craig Cannon.

    ***

    Topics

    0:00 - Intro

    0:42 - Why Should I Start a Startup?

    2:00 - Three types of people: people highly motivated when working for themselves, people that could succeed starting a startup or within a big company, and people that could succeed within a big company.

    6:00 - How do you decide what type of person you are?

    7:30 - Identify bias in advice givers

    10:30 - Peer advice becomes less valuable during college

    14:40 - One Order of Operations for Starting a Startup

    15:40 - People aren’t taught how to find ideas

    17:20 - Find a particular problem that you’re passionate about

    20:55 - Find some friends and brainstorm a solution

    23:20 - Build an MVP

    25:55 - Two failed orders of operations for starting a startup

    29:57 - The Real Product Market Fit

    30:57 - Why do many founders think they have product market fit when they don’t?

    35:42 - Building a successful company is not a single variable problem

    37:27 - Socialcam didn’t hit product market fit

    38:37 - Justin.tv had $1M in profit before reaching product market fit

    42:27 - Some companies take a long time

    42:55 - Users You Don’t Want

    44:25 - The spectrum of how users are using your product

    45:55 - Users that take a lot of customer support time

    48:50 - Don’t let the hijack users control the product roadmap

    49:31 - Why Does Your Company Deserve More Money?

    50:31 - A team, a product, and an office are all just a means to an end

    51:31 - If you don’t really deserve money, what is an alternate path to create leverage?

    53:16 - Breaking even at Justin.tv was a moment of infinite clarity

    55:31 - Series A program and leverage

      15
      15
        0:00:00 / 0:00:00